US Cash Grains-Corn basis bids stay mostly flat to weaker
CHICAGO, Aug 13 (Reuters) -Spot basis bids for corn were mostly flat to lower on Tuesday in the U.S. Midwest, while soy bids stabilized following recent declines.
* The corn basis slipped at an Ohio grain elevator; Nebraska processing facility; Illinois river terminal; and Indiana ethanol plant. The basis rose at a processor in Cedar Rapids, Iowa.
* Favorable crop weather is fueling expectations for large corn and soy harvests this autumn and has prompted farmers to make room in storage bins by selling old-crop supplies.
* "A summer without significant Midwestern heat stress continues," the U.S. Department of Agriculture said in a daily weather report.
* A weekly USDA report, issued after trading ended on Monday, kept good-excellent condition ratings unchanged for corn and soy crops. Analysts expected slight declines.
* Corn futures prices Cv1 are near 2020 lows reached on Monday, while soy futures Sv1 reached their lowest level since September 2020 at the Chicago Board of Trade.
Basis values are quoted against CBOT futures in cts/bushel:
ELEVATORS | |||||||||
CORN | SOYBEANS | ||||||||
CINCINNATI OH | -15 | + | U | DN 2 | -10 | + | X | UP 3 | |
BURNS HARBOR IN | UNQ | UNC | UNQ | UNC | |||||
DECATUR IN | UNQ | UNC | |||||||
DES MOINES IA | UNQ | UNC | |||||||
LINCOLN NE | +10 | + | U | UNC | |||||
PROCESSORS | |||||||||
CORN | SOYBEANS | ||||||||
DECATUR IL | -1 | + | Z | UNC | +30 | + | X | UNC | |
DECATUR IN | +10 | + | X | UNC | |||||
MORRISTOWN IN | +20 | + | X | UNC | |||||
LAFAYETTE IN | +30 | + | X | UNC | |||||
CEDAR RAPIDS IA | +10 | + | U | UP 10 | +10 | + | X | UNC | |
COUNCIL BLUFFS IA | +5 | + | X | UNC | |||||
LINCOLN NE | -10 | + | X | UNC | |||||
BLAIR NE | +15 | + | U | DN 3 | |||||
RIVER TERMINALS | |||||||||
CORN | SOYBEANS | ||||||||
TOLEDO OH | -40 | + | U | UNC | -15 | + | X | UNC | |
SENECA IL | -6 | + | U | DN 1 | +20 | + | Q | UNC | |
SAVANNA IL | -13 | + | U | UNC | -26 | + | X | NC | |
DAVENPORT IA | -16 | + | U | UNC | -14 | + | X | UNC | |
ETHANOL PLANTS | |||||||||
LINDEN IN | -10 | + | U | UNC | |||||
UNION CITY IN | -22 | + | U | DN 3 | |||||
ANNAWAN IL | +0 | + | U | UNC | |||||
COUNCIL BLUFFS IA | +15 | + | U | UNC | |||||
SRW WHEAT | |||||||||
TOLEDO OH | -35 | + | U | UNC | |||||
CINCINNATI OH | UNQ | UNC | |||||||
DECATUR IN | -65 | + | U | UNC | |||||
BURNS HARBOR IN | UNQ | UNC |
NOTE: 0 = option price, UNC = Unchanged, UNQ = Unquoted
NC = Not comparable, DPI = Delayed Price, N/A = Not available,
F = January, H = March, K = May, N = July
Q = August, U = September, X = November, Z = December
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LINKS: 0#USCSHGRN-PM
For U.S. forward basis spreadsheets, please click:
CORN/BASIS, SOYA/BASIS, WHEAT/BASIS, MILO/BASIS
- CBOT corn report COR/
- CBOT soybean report SOY/C
- CBOT wheat report WHE/C
- U.S. grain barge freight values BG/US
- U.S. Midwest cash grain PM GRA/PM
- U.S. CIF/FOB Gulf Grain GRA/F
Reporting by Tom Polansek; Editing by Shreya Biswas
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